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Smart Shopper Smart Shopper-Archives Lease Questions - Ask Here 
23872 messages, Last post on Sep 20, 2005 at 8:08 AM
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| Car Man, can you tell me the residual on a 2006 BMW 325i sedan 36months/15K. Can you also calculate a lease payment for me for a MSRP of 35K? Thanks | |
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Replying to: Car_man (Sep 14, 2005 2:11 am) The MSRP on the car is $21,440. The invoice price on the car is $18,834. He quoted me $17,650 including destination at first since I was asking about leasing. Later when I asked him what it would cost me if I was buying the car he added $515 for destination. When I asked him about the monthly payment with $1500 down, he came back saying that it would be $256 + taxes for 42 months. He also refused to give me the money factor and said that it depends on my credit. After approval by AHFC he said that my monthly payment will be at least $20 higher since my credit is Fair (620). Is it really a good deal? Also, I am really confused about all the other fees and charges like dealer documentation, lease initiation, etc. Please tell me what I can negotiate with and what I cannot. I am going to spend a good portion of my day trying to educate myself. I would really appreciate any help. I need to finalize the car soon ( like today or tomorrow) Thank You |
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Car Man, Would you provide me with the Residual & MF on an 06 Accord EX-V6, 6speed with Navi based on 15,000 miles and a 36, 39, 48 month term. Thanks. |
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Replying to: kyfdx (Aug 26, 2005 7:27 am) This is the most important thing anyone needs to know about leasing." Ok, since you apparently didn't see my question, let me suggest that this statement is utter nonsense. Obviously one of the strongest inducements to lease has always been the prospect of driving a car you couldn't otherwise afford for less money. Exactly what is the logic behind your silly assertion to the contrary, other than some elitist notion about the unwashed driving the good stuff.......
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Replying to: delrick (Sep 15, 2005 5:34 pm) This is the most important thing anyone needs to know about leasing." [..] Obviously one of the strongest inducements to lease has always been the prospect of driving a car you couldn't otherwise afford for less money. Exactly what is the logic behind your silly assertion to the contrary, other than some elitist notion about the unwashed driving the good stuff....... The benefits of leasing are: - Don't have to worry about selling the car. - Don't have to pay tax on residual [most states]. - Don't have to worry about diminished value following a collision. - Some cars are in fact cheaper to lease than to buy. The danger is that for whatever reason, you'll wind up in a changed situation where you have to drive a lot of miles, or you move abroad and need to end the lease, or your three-year-old pours Elmer's white glue down the AC vents of your 530i. When "stuff" happens, it can cost a bunch of extra money to get out from under. That is why you can't afford to lease cars you can't afford to buy. Elitist notions have nothing to do with this. We're not snobs here, which you'll see if you spend some time reading. -Mathias.
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Replying to: steine13 (Sep 15, 2005 5:46 pm) In fact among the myriad reasons for leasing, one of the strongest has always been the ability to acquire a better vehicle for less money. I suppose there is a subtle distinction here between costing less money and ability to afford, but I submit that the same litany of things that can go wrong is equally applicable to financing a purchase.. So perhaps your point is unless you can pay cash for a car, walk. |
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Replying to: delrick (Sep 15, 2005 5:34 pm) Well.. gee.. I find it pretty hard to be elitist when I have to punch a time clock everyday. I think you are the first person to ever accuse me of that... Although, I have been called a clown...  Leasing is just an alternative form of financing... You still have exactly the same costs as purchasing.. Depreciation, financing, maintenance, insurance, etc... The only difference is the cash flow schedule... On a purchase, you pay more of the money sooner, and less later, than on a lease... But, in the end, driving a car for three years doesn't cost any less by leasing... As Mathias pointed out, a person's situation and driving needs can change... If you put a decent downpayment on a car, and your loan is for 60 months or less, you can always sell your car to get rid of the debt, or if you can still afford the payment, but your driving needs have changed, you can pile on all the miles you want.. You have options... But, if instead of buying a $30K vehicle with 20% down and a $500 payment (assuming that is your budget), you go lease a car that MSRPs for 40% more, with the same $500 payment... and then you suffer a financial setback, or your driving needs change.... you are committed to a vehicle that will shortly be much more expensive than you can afford.. So, if you have a 20% downpayment and a budget of $500, and choose to lease that $30K car for $350/mo. instead... then no problem.. But, if your alternative is to use your entire $500/mo. budget to lease a $42K car, that you could never afford to purchase... then you are just setting yourself up for major financial problems.. regards, kyfdx Host-Prices Paid Forums |
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In fact among the myriad reasons for leasing, one of the strongest has always been the ability to acquire a better vehicle for less money. That was my whole point... You can't acquire a better vehicle for less money.. it just results in a smaller monthly payment... not any sort of real savings.. I agree... this is the reason many people lease... I just think it is the worst reason... regards, kyfdx |
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If you want to see where another member has posted... or how often they post, just click on their member name, and you can see their last ten posts... regards, kyfdx Host-Prices Paid Forums |
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Replying to: Car_man (Aug 22, 2005 2:08 am) And is there a way to keep the salesman honest about my credit tier? So I will not be given a quote calculated with tier B, while in fact I am qualified for tier A. Thank you.  Ning |
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